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What is Shiba Inu Coin (SHIB)?

What is Shiba Inu Coin (SHIB)?

Dhananjay Lochave

Marketing Manager - Branding

Table of Contents

Shiba Inu Coin intends to be Ethereum-hinged equivalent to Dogecoin’s Srypt-based mining algorithm. SHIB Inu Coin is among the world’s largest cryptocurrencies, with trading activity comparable to Ethereum. Last year, Shiba Inu token was a monster performer, accumulating a mind-boggling 47,300% returns and bringing life-changing riches to a select few.

Shiba Inu Token Code Shiba Inu Token Code Shiba Inu Token Code Shi The Shiba Inu, a Japanese hunting dog breed, is the mascot of SHIB, an Ethereum-based altcoin. Shiba Inu is widely seen as a viable alternative to Dogecoin, and its supporters dub it “the Dogecoin killer.” Shiba Inu is an ERC-20 token, which means it was created and is hosted on Ethereum rather than its own blockchain.

Who Created the Shiba Inu Coin?

The Shiba Inu Coin was established by “Ryoshi,” an unknown creator, in August 2020. However, much like the founder of Bitcoin, Satoshi Nakamoto, little is known about the dog-themed cryptocurrency’s unknown origin. Shiba Inu is a community-driven token that is supported and controlled by a large group of people. On Twitter, it has over 2.7 million followers, while the Reddit group has 463K members.

How To Earn Free Shiba Inu Coins?

You can earn Shiba Inu coins by signing up on BuyUcoin, referring your friends, becoming an affiliate, trading Shiba Coins, and participating in trading tournaments and crypto festivals.

Shiba Inu Coin Price Prediction 2022

On May 02 2022, the price of SHIB in India is ₹ 0.0016 with a 24-hour trading volume of ₹58,00,08,36,957 INR. In the last 24 hours, the price of Shiba Inu has incresed by 0.08%. As of now 549146987315505.4 SHIB coins are in circulation.

The meme coin sank by more than 60% from its all-time high in October of last year after the Shiba Inu cryptocurrency soared in value in 2021. Despite this, analysts predict that the currency will be bullish in 2022, maybe surpassing its previous high.

Despite market ups and downs and epidemic setbacks, SHIB has only taken a steady rising trajectory, presenting pleasant if not encouraging patterns until it ultimately settled at 0.002511 by the end of 2021. SHIB has been on a similar upward trajectory, reaching numerous all-time highs and repeatedly breaking its own barrier, and is expected to generate good gains in 2022.
Shiba Inu Price Prediction 2021

Shiba Inu had a spectacular year in 2021, with a breakout that began in April’21 and reached parabolic proportions with a massive rally in October’21 that saw prices go from ₹0.00052 to ₹0.060 in just 25 days, a 1000% increase. Since then, the price has dropped by roughly half, and it is now trading at ₹0.001537.

Why Invest in Shiba Inu Token in 2022?

When prominent cryptocurrency exchanges like BuyUcoin authorised trading in SHIB using fiat currency pairs that remained popular following Dogecoin’s climb, the dog-themed cryptocurrency jumped from 0.000000005646 at the start of 2021 to 0.061, a 26,000,000 percent increase.

Shiba Inu aspires to break into the non-fungible token (NFT) and gaming industries. This type of growth necessitates lowering transaction costs. As a result, the Shibarium’s creation is a tremendous stride forward.

Shibarium, Shiba Inu’s scaling solution, will be released this year. It’s referred to as a blockchain or a layer-2 system, and it’s based on Ethereum. Due to its use of Ethereum, Shiba Inu now has high transaction fees and congestion, but Shibarium will minimise both. Shiba Inu could profit from the release of Shibarium. And with the Shib Army’s help, a few triumphs may be had here and there.

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